Marico net rises 50

MUMBAI, April 27: Marico Industries has posted a 50 per cent rise in net profit to Rs 30 crore for the year ended March 31, 1998, as compared to Rs 20.1 crore in the previous year. The turnover rose 19.6 per cent to Rs 490 crore from Rs 409.7 crore last year.

The dividend payout for the year is higher at Rs 7.5 per share Rs 3 per share interim and Rs 4.5 per share final dividend, which works out to Rs 11.96 crore as against Rs 7.69 crore last year Operating profit rose to Rs 44.8 crore from Rs 36.2 crore. Operating profit margins increased to 9.1 per cent from 8.8 per cent last year. Net profit margins also went up to 6.1 per cent from 4.8 per cent.

The financial results do not take into effect the impact of the proposed merger of Kanmoor Foods, which is subject to approvals from BIFR and Marico shareholders, the company said.

Depreciation was higher at Rs 3.9 crore as against Rs 3.1 crore last year, while provision for taxation fell to Rs 6.4 crore from Rs 7.6 croreThe company said the operatingmargins rose backed by stabilisation of raw material prices.